GE to sell Czech bank unit in 2 years -Hospodarske Noviny paper

April 22, 2015 6:30 AM

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PRAGUE, April 22 (Reuters) - General Electric (GE) will sell its Czech banking unit within two years, the bank's Chief Executive Sean Morrissey was quoted saying on Wednesday in newspaper Hospodarske Noviny.

The sale, estimated to be worth more than 20 billion crowns ($784 million), is part of a global push of GE to become a simpler industrial business instead of the current hybrid of banking and manufacturing.